AGEM Index down 2.2% in October
Seven of the 12 AGEM Index companies saw stock price decreases.
Asia.- The AGEM Index reached 1,518.20 points in October 2024. That’s a decrease of 34.39 points or 2.2 per cent sequentially and 505.85 points or 50.1 per cent in year-on-year terms.
Seven of the 12 AGEM Index companies saw stock price decreases, resulting in seven negative contributions and five positive contributions to the Index. Light & Wonder was the largest positive contributor, with a 3.4 per cent increase in its stock price. Meanwhile, an 8.2 per cent decrease in Agilysys’ stock price resulted in a 6.10-point loss.
Created by the Association of Gaming Equipment Manufacturers (AGEM), the AGEM Index lists 12 global gaming suppliers. Nine are based in the United States and are listed on the NYSE, Nasdaq, or OTC, while two are listed in Australia and one in Tokyo. The index is calculated using the month-end stock price of each company, adjusted for dividends and splits, and is weighted based on estimated market capitalisation.
Fitch ratings expects Macau GDP to rise 15% this year
Fitch Ratings has forecast that Macau’s gross domestic product (GDP) will grow by 15 per cent this year and 8 per cent in 2025 amid the resurgence of the gaming tourism sector. It said the sector would be boosted by travel policy adjustments that favour tourism between Macau and Hengqin Island allowing mainland residents with a business visa to stay for up to 14 rather than seven days.
Fitch has reaffirmed Macau’s long-term foreign-currency issuer default rating at AA, with a stable outlook highlighting the city’s “exceptionally strong public and external finances, and demonstrated fiscal prudence even during periods of economic and gaming revenue shocks.” It noted however that the continued reliance on gaming tourism from mainland China remains a risk, given the potential influence of policy changes affecting tourism.